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Thursday, 24 September 09
NO IMPORTED COAL-BASED UMPPS: TATA POWER
.jpg) Will wait until policy environment becomes more favourable.
Business Standard reported that, Tata Power Company (TPC), India’s largest private power utility, has announced that it would not bid for imported coal-based Ultra Mega Power Projects (UMPPs) in future, until the overall policy environment becomes favourable. The company plans to increase its installed power generation capacity to 8,000 Mw by 2012 and 12,000 Mw by 2014 from the current 2,700 Mw.
“There are two conditions we have (for bidding in UMPPs). One, it should not be imported coal-based. Second is that the financial market should be such that it attracts foreign currency loans,” Tata Power Executive Director S Ramakrishnan said. The company’s decision stems from the volatility in international coal prices, which could further pressurise domestic power prices in future.
“We are already exposed to about 20 million tonnes of imported coal. Any more is not advisable from our portfolio point of view because international coal prices can go high, in which case the power you produce becomes very expensive. We are very keen to look at domestic (coal-based) UMPPs. If it is based on imported coal, we will not bid,” Ramakrishnan said.
He also added the company would remain “averse” to taking decisions in the matter until the government’s policy on making imported coal affordable and the policy on foreign currency exposure becomes clear.
“There are some discussions in terms of a pool price of coal, wherein imported coal and Indian coal could be mixed into one pool, so that it (imported coal) becomes affordable. Also, foreign currency loans for Indian projects have almost evaporated. We believe that the Indian financial system will get overloaded with exposure to the power industry. Until this issue is solved, there will be an issue of funding. So, let these policies get cleared before we review this,” he said.
Tata Power, which is implementing the imported coal-based Mundra UMPP, had bid for the Sasan pithead UMPP but the project went to Reliance Power after the latter matched Lanco’s bid at a tariff of Rs 1.19 a unit. Tata Power is currently locked in a legal battle over the government decision allowing Reliance Power to use coal linked to Sasan for other power projects.
Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity by over 50,000 Mw by 2017 in order to minimise the gap between electricity demand and supply in the country.
The government has so far bid out four of such UMPPs, one of which was in Mundra in Gujarat and was bagged by Tata Power in 2007. The other three UMPPs — Sasan in Madhya Pradesh, Krishnapatnam in Andhra Pradesh and Tilaiya in Jharkhand — are being developed by Reliance Power.
THE STORY SO FAR
* Under the UMPP scheme, the government has proposed to set up 13 power projects of 4,000-Mw capacity each to increase India’s power capacity
* The government has so far allotted four UMPPs, one of which is in Mundra in Gujarat and was bagged by Tata Power in 2007
* Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ending March 2012
* The project would be funded on a 75 per cent debt and 25 per cent equity basis
Tata Power is planning to commission the first two units of 800 Mw each of the Rs 17,000-crore Mundra UMPP in the terminal year of the current Plan period ended March 2012. The company has already claimed that the project has progressed 30 per cent and it plans to commission the first unit in September 2011.
The project would be funded on a 75 per cent debt and 25 per cent equity basis. Foreign exchange loans, to the extent of $1.8 billion, are being provided by Korean Exim, Korean Insurance, International Finance Corporation (IFC) and Asian Development Bank (ADB). Another $1.2 billion has been raised from a consortium of domestic banks led by the State Bank of India.
Ramakrishnan also informed that the total coal requirement for the project is about 12 million tonnes, which the company is planning to source from two Indonesian mines where it holds a stake of around 30 per cent.
“We are looking at other sources apart from Indonesia to meet the remaining requirement. The total requirement for our various projects is around 20 million tonnes,” he said.
The company has chalked out a plan to invest Rs 23,600 crore by the end of the current Plan period in various projects it is implementing currently. This includes, apart from the Mundra UMPP, a 1,050-Mw coal-based power project in Maithon in Jharkhand and two captive power plants of 120 Mw each in Orissa.
Source: Business-Standard
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Tuesday, 01 September 09
GLOBAL COAL PRICES UNDER PRESSURE AS CHINESE PROVINCE RETURNS TO THE PRODUCTION FRAY - REUTERS
China is set to return to role of coal exporter as the deadline for thousands of small coal mines in its Shanxi province to reopen after being shut ...
Tuesday, 01 September 09
INDONESIA PLN SECURES 1.9 MILLION TONNES COAL FOR NEW POWER PLANT
Reuters reported that Indonesia's state electricity firm PT Perusahaan Listrik Negara has secured 1.9 million tonnes of sub bituminous coal per yea ...
Tuesday, 01 September 09
EXPORT OF COAL RAW MATERIAL SHOULD BE REDUCED - INDONESIAN OFFICIAL
Antara reported that, Coal producing companies should reduce the volume of their export of coal raw material and increase the volume of their finish ...
Tuesday, 01 September 09
NEWCASTLE WEEKLY COAL EXPORTS RISE 23%, SHIP QUEUE DECREASES
Bloomberg reported that, Coal shipments from Australia’s Newcastle port, the world’s biggest export harbor for the fuel, rose 23 percent ...
Monday, 31 August 09
INDIA MMTC ISSUE TENDER TO IMPORT 12.5 MMT COAL TO BE SUPPLIED OVER A PERIOD OF 12 MONTHS
COALspot.com (India): MMTC has re-issued a tender to import 12.50 Million Metric Tonnes (12.50 MMT) (+/- 2%) of thermal coal to be supplied over a p ...
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- Africa Commodities Group - South Africa
- Binh Thuan Hamico - Vietnam
- Cement Manufacturers Association - India
- Meenaskhi Energy Private Limited - India
- LBH Netherlands Bv - Netherlands
- VISA Power Limited - India
- Petrochimia International Co. Ltd.- Taiwan
- McConnell Dowell - Australia
- Jindal Steel & Power Ltd - India
- GVK Power & Infra Limited - India
- Chamber of Mines of South Africa
- Indian Oil Corporation Limited
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- New Zealand Coal & Carbon
- Kapuas Tunggal Persada - Indonesia
- Bulk Trading Sa - Switzerland
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- Merrill Lynch Commodities Europe
- Pendopo Energi Batubara - Indonesia
- Larsen & Toubro Limited - India
- Truba Alam Manunggal Engineering.Tbk - Indonesia
- Bangladesh Power Developement Board
- Ministry of Transport, Egypt
- London Commodity Brokers - England
- Independent Power Producers Association of India
- Wood Mackenzie - Singapore
- The Treasury - Australian Government
- OPG Power Generation Pvt Ltd - India
- Essar Steel Hazira Ltd - India
- The University of Queensland
- Ministry of Finance - Indonesia
- Rashtriya Ispat Nigam Limited - India
- GN Power Mariveles Coal Plant, Philippines
- European Bulk Services B.V. - Netherlands
- Borneo Indobara - Indonesia
- Vedanta Resources Plc - India
- Antam Resourcindo - Indonesia
- Chettinad Cement Corporation Ltd - India
- Globalindo Alam Lestari - Indonesia
- Standard Chartered Bank - UAE
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- SMG Consultants - Indonesia
- Australian Commodity Traders Exchange
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- Cigading International Bulk Terminal - Indonesia
- Kobexindo Tractors - Indoneisa
- IHS Mccloskey Coal Group - USA
- Global Green Power PLC Corporation, Philippines
- Jaiprakash Power Ventures ltd
- Formosa Plastics Group - Taiwan
- Siam City Cement - Thailand
- Vizag Seaport Private Limited - India
- Dong Bac Coal Mineral Investment Coporation - Vietnam
- Therma Luzon, Inc, Philippines
- Bank of Tokyo Mitsubishi UFJ Ltd
- Gujarat Mineral Development Corp Ltd - India
- PNOC Exploration Corporation - Philippines
- Central Electricity Authority - India
- Wilmar Investment Holdings
- Malabar Cements Ltd - India
- Kaltim Prima Coal - Indonesia
- Semirara Mining Corp, Philippines
- Commonwealth Bank - Australia
- Planning Commission, India
- Australian Coal Association
- Vijayanagar Sugar Pvt Ltd - India
- Bukit Asam (Persero) Tbk - Indonesia
- Coal and Oil Company - UAE
- Videocon Industries ltd - India
- Coastal Gujarat Power Limited - India
- Marubeni Corporation - India
- India Bulls Power Limited - India
- Global Coal Blending Company Limited - Australia
- Sindya Power Generating Company Private Ltd
- Kohat Cement Company Ltd. - Pakistan
- International Coal Ventures Pvt Ltd - India
- Altura Mining Limited, Indonesia
- Filglen & Citicon Mining (HK) Ltd - Hong Kong
- Thai Mozambique Logistica
- Banpu Public Company Limited - Thailand
- Petron Corporation, Philippines
- Carbofer General Trading SA - India
- Goldman Sachs - Singapore
- Baramulti Group, Indonesia
- Orica Australia Pty. Ltd.
- Indian Energy Exchange, India
- PTC India Limited - India
- GMR Energy Limited - India
- Orica Mining Services - Indonesia
- Electricity Authority, New Zealand
- Gujarat Electricity Regulatory Commission - India
- Coalindo Energy - Indonesia
- Offshore Bulk Terminal Pte Ltd, Singapore
- Xindia Steels Limited - India
- Ministry of Mines - Canada
- Meralco Power Generation, Philippines
- Sree Jayajothi Cements Limited - India
- Manunggal Multi Energi - Indonesia
- Global Business Power Corporation, Philippines
- Savvy Resources Ltd - HongKong
- Thiess Contractors Indonesia
- Eastern Coal Council - USA
- Minerals Council of Australia
- Miang Besar Coal Terminal - Indonesia
- Madhucon Powers Ltd - India
- Bhatia International Limited - India
- Dalmia Cement Bharat India
- Ambuja Cements Ltd - India
- Directorate General of MIneral and Coal - Indonesia
- Samtan Co., Ltd - South Korea
- Energy Development Corp, Philippines
- Neyveli Lignite Corporation Ltd, - India
- Billiton Holdings Pty Ltd - Australia
- Bhoruka Overseas - Indonesia
- PowerSource Philippines DevCo
- Bukit Makmur.PT - Indonesia
- Karaikal Port Pvt Ltd - India
- Iligan Light & Power Inc, Philippines
- Lanco Infratech Ltd - India
- Sical Logistics Limited - India
- Toyota Tsusho Corporation, Japan
- Anglo American - United Kingdom
- Uttam Galva Steels Limited - India
- AsiaOL BioFuels Corp., Philippines
- Kideco Jaya Agung - Indonesia
- Salva Resources Pvt Ltd - India
- Kumho Petrochemical, South Korea
- Riau Bara Harum - Indonesia
- Agrawal Coal Company - India
- CIMB Investment Bank - Malaysia
- Bayan Resources Tbk. - Indonesia
- Power Finance Corporation Ltd., India
- Heidelberg Cement - Germany
- Bharathi Cement Corporation - India
- Port Waratah Coal Services - Australia
- Pipit Mutiara Jaya. PT, Indonesia
- Ceylon Electricity Board - Sri Lanka
- San Jose City I Power Corp, Philippines
- Kartika Selabumi Mining - Indonesia
- Straits Asia Resources Limited - Singapore
- Gujarat Sidhee Cement - India
- GAC Shipping (India) Pvt Ltd
- Parliament of New Zealand
- Sinarmas Energy and Mining - Indonesia
- Maheswari Brothers Coal Limited - India
- PetroVietnam Power Coal Import and Supply Company
- Star Paper Mills Limited - India
- Georgia Ports Authority, United States
- South Luzon Thermal Energy Corporation
- IEA Clean Coal Centre - UK
- Deloitte Consulting - India
- Attock Cement Pakistan Limited
- Tamil Nadu electricity Board
- Mercuria Energy - Indonesia
- Jorong Barutama Greston.PT - Indonesia
- Tata Chemicals Ltd - India
- MS Steel International - UAE
- Asmin Koalindo Tuhup - Indonesia
- Electricity Generating Authority of Thailand
- Barasentosa Lestari - Indonesia
- Alfred C Toepfer International GmbH - Germany
- Simpson Spence & Young - Indonesia
- Latin American Coal - Colombia
- Directorate Of Revenue Intelligence - India
- Mercator Lines Limited - India
- Holcim Trading Pte Ltd - Singapore
- Siam City Cement PLC, Thailand
- The State Trading Corporation of India Ltd
- Oldendorff Carriers - Singapore
- Sojitz Corporation - Japan
- TNB Fuel Sdn Bhd - Malaysia
- Renaissance Capital - South Africa
- SMC Global Power, Philippines
- TeaM Sual Corporation - Philippines
- Indogreen Group - Indonesia
- Krishnapatnam Port Company Ltd. - India
- Mintek Dendrill Indonesia
- SN Aboitiz Power Inc, Philippines
- Edison Trading Spa - Italy
- White Energy Company Limited
- Mjunction Services Limited - India
- Timah Investasi Mineral - Indoneisa
- Romanian Commodities Exchange
- Eastern Energy - Thailand
- Economic Council, Georgia
- Asia Pacific Energy Resources Ventures Inc, Philippines
- Metalloyd Limited - United Kingdom
- Maharashtra Electricity Regulatory Commission - India
- Leighton Contractors Pty Ltd - Australia
- Indo Tambangraya Megah - Indonesia
- Grasim Industreis Ltd - India
- Aditya Birla Group - India
- Intertek Mineral Services - Indonesia
- Parry Sugars Refinery, India
- Energy Link Ltd, New Zealand
- Dr Ramakrishna Prasad Power Pvt Ltd - India
- Semirara Mining and Power Corporation, Philippines
- Aboitiz Power Corporation - Philippines
- Sarangani Energy Corporation, Philippines
- Central Java Power - Indonesia
- ICICI Bank Limited - India
- Interocean Group of Companies - India
- Indika Energy - Indonesia
- Sakthi Sugars Limited - India
- Indonesian Coal Mining Association
- ASAPP Information Group - India
- Bahari Cakrawala Sebuku - Indonesia
- Ind-Barath Power Infra Limited - India
- Bukit Baiduri Energy - Indonesia
- Kepco SPC Power Corporation, Philippines
- Price Waterhouse Coopers - Russia
- Medco Energi Mining Internasional
- CNBM International Corporation - China
- Trasteel International SA, Italy
- Singapore Mercantile Exchange
- Makarim & Taira - Indonesia
- Posco Energy - South Korea
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